E-Trade Financial Corp. said Wednesday that average daily client trading declined 2.8% last month.
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The New York online broker said retail daily average revenue trades fell 0.7% from April to May and that professional daily average revenue trades declined 7.7%.
Jarret Lillien, the company's chief operating officer, said he was encouraged by other indicators and the fact that competitors had also suffered through a difficult month. Retail assets and deposits in customer accounts grew 6.9% in May, to $96.2 billion.
Charles Schwab Corp. had said on Tuesday that its customers' stock trading fell 7% last month, and Ameritrade Holding Corp. reported last week that May's average daily client trades fell to the lowest level since September.
